Indian stock indices at record peak as IT, bank shares shine
- Date: 08-Jan-2021
- Source: Gulf Today
- Sector:Financial Markets
- Country:Middle East
Indian stock indices at record peak as IT, bank shares shine
Pedestrians walk past the Bombay Stock Exchange. File/Agence France-Presse
Indian IT services and financial shares helped key stock indexes to scale a record highs on Friday, as investors turned their focus to the third-quarter earnings season. Favourable global cues along with positive domestic macro-economic data pushed the equities higher during the trade session.
The NSE Nifty 50 advanced 209.90 points or 1.48% to 14,347.25 and the benchmark S&P BSE Sensex added 689.19 points or 1.43% to 48,782.51, with both indexes made the first full week of the new year higher.
“Markets are focusing on earnings, more so on key sectors like IT and banking wherein they are keenly eyeing how the results pan out,” said Narendra Solanki, head of equity research (fundamental) at Anand Rathi Investment Services.
“IT is being seen as performing good, based on last quarter's optimistic management commentary on outlook in India and
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